Regional Economic Recovery Work Plan
This plan is the two-county’s (Riverside and San Bernardino: Cal Trans District Eight) combined response to the Business, Transportation and Housing Agency’s request for a Regional Economic Recovery Work Plan. The plan supports regional economic growth by leveraging resources, expediting infrastructure delivery, supporting the growth of business and innovation, developing the Inland Empire’s workforce and by enhancing the environment through new initiatives and technology.
View Work Plan
Riverside County Designated as Recovery Zone
As a part of the American Recovery and Reinvestment Act, the Internal Revenue Services (IRS) added new code provisions allowing for the establishment of Recovery Zones that provide capacity for public agencies to issue public and private bond financing. These bonds are intended to stimulate the economy in Recovery Zones.
Recovery Zone Bonds consist of two categories, Economic Development and Facility Bonds.
Economic Development Bonds are taxable governmental bonds which can be utilized for the promotion of economic development in areas such as construction of infrastructure, public facilities, and various economic development purposes. Riverside County’s allocation of Recovery Zone Economic Development Bonds is $49,801,000.
Facility Bonds are tax-exempt, private activity bonds which allow issuers to provide tax-exempt financing for projects such as large manufacturing plants, distribution centers, research facilities, etc. Riverside County’s allocation of Recovery Zone Facility Bonds is $74,702,000.
Recovery Zone Bonds may only be issued until December 31, 2010. The bond allocations can be used for projects in all the cities and unincorporated areas of the county.
More information on this program to come.
Regional Economic Recovery Work Plan
This plan is the two-county’s (Riverside and San Bernardino: Cal Trans District Eight) combined response to the Business, Transportation and Housing Agency’s request for a Regional Economic Recovery Work Plan. The plan supports regional economic growth by leveraging resources, expediting infrastructure delivery, supporting the growth of business and innovation, developing the Inland Empire’s workforce and by enhancing the environment through new initiatives and technology.
View Work Plan
Riverside County Designated as Recovery Zone
As a part of the American Recovery and Reinvestment Act, the Internal Revenue Services (IRS) added new code provisions allowing for the establishment of Recovery Zones that provide capacity for public agencies to issue public and private bond financing. These bonds are intended to stimulate the economy in Recovery Zones.
Recovery Zone Bonds consist of two categories, Economic Development and Facility Bonds.
Economic Development Bonds are taxable governmental bonds which can be utilized for the promotion of economic development in areas such as construction of infrastructure, public facilities, and various economic development purposes. Riverside County’s allocation of Recovery Zone Economic Development Bonds is $49,801,000.
Facility Bonds are tax-exempt, private activity bonds which allow issuers to provide tax-exempt financing for projects such as large manufacturing plants, distribution centers, research facilities, etc. Riverside County’s allocation of Recovery Zone Facility Bonds is $74,702,000.
Recovery Zone Bonds may only be issued until December 31, 2010. The bond allocations can be used for projects in all the cities and unincorporated areas of the county.
More information on this program to come.